European Movers: Thales (HO FP) +1.0%, Kuehne und Nagel (KNIN SW) +3.9%, Sika (SIKA SW) -1.6%, Fresnillo (FRES LN) -3.3%, Zurich Insurance (ZURN SW) -4.4% Beiersdorf (BEI GY) -10.1%

Thales (HO FP) - Q4 2025 (EUR): Revenue 6.88bln (exp. 6.61bln). Co. sees 2026 sales between 23.3-23.6bln (exp. 23.64bln) and 2026 EBIT Margin 12.6-12.8% (exp. 12.8%). Dividend of EUR 3.90/shr, representing 40% of Adjusted net income, Group share. (Thales)

Kuehne und Nagel (KNIN SW) - FY 2025 (CHF): EBIT 1.4bln (exp. 1.32bln), Turnover 24.5bln (exp. 24.7bln). Dividend proposal of CHF 6.00 per share. For 2026, Kuehne+Nagel expects a group recurring EBIT result in the range of CHF 1.2-1.4bln. (Kuehne und Nagel)

Sika (SIKA SW) - Co. expands its digital product portfolio through global commercial partnership with Giatec. (Sika)

Fresnillo (FRES LN) - 2025 (USD): EBITDA 2.79bln (prev. 1.54bln Y/Y), EPS 2.058 (prev. 0.364 Y/Y). Gold Production 600.3koz (prev. 631.5koz Y/Y), Silver Production 48.72moz (prev. 56.30moz Y/Y). Total 2025 dividend payment of USD 950mln. "Operationally, silver production was in line with guidance and gold production exceeded expectations”. 2026:  Attributable silver production expected to be in the range of 42.0 to 46.5 moz. Attributable gold production expected to be in the range of 500 to 550 koz. (Fresnillo) 

Zurich Insurance (ZURN SW) / Beazley (BEZ LN) - Zurich Insurance raises CHF 3.9bln to partly finance Beazley acquisition. (Zurich)

Beiersdorf (BEI GY) - Co. expects 2026 EBIT margin (ex. special factors) to be slightly below previous years level; 2025 group sales EUR 9.9bln, +2.4%, EBIT margin ex. special factors rises to 14%. Q1 is expected to come in below FY range, affected by disruptions in US retail and China travel retail landscape. Announces a EUR 750mln share buyback. (Beiersdorf)